StatPro Group PLC $1.2m contract extension for Revolution

TIDMSOG

StatPro Group PLC

03 April 2019

RNS REACH

3 April 2019

StatPro Group PLC

$1.2 million contract extension for Revolution via major Fund Administrator

StatPro Group plc ("StatPro", "the Group", AIM: SOG), the AIM listed provider of cloud-based portfolio analytics and asset pricing services for the global asset management industry, has signed a contract extension with a major Fund Administrator for StatPro Revolution worth $1.2 million over the next three years as the Fund Administrator has secured a new client requiring StatPro's capabilities.

Fund Administrators are an increasingly important distribution channel for StatPro, as the Asset Management market looks to outsource key data management functions.

StatPro Revolution is uniquely adapted to help Fund Administrators provide portfolio analytics to asset managers, combining a superior service and lower cost of ownership due to its cloud-based technology.

StatPro expects to see further growth from major Fund Administrators during the course of the year.

Justin Wheatley, Group CEO, commented:

"This notable additional business via one of our major Fund Administrator clients is a clear demonstration of the steady transformation of the asset management market to outsourcing and the opportunity this represents for us.

"Our objective is to build on our third party relationships to enhance our growth and we are strategically well placed to benefit from this industry trend."

Enquiries:

 
 StatPro Group plc 
 Justin Wheatley, Chief Executive        [phone] 
 Andrew Fabian, Finance Director 
 
 Panmure Gordon - Nomad and Broker 
 Corporate Finance - Freddy Crossley 
  / Fabien Holler                        [phone] 
 Corporate Broking - James Stearns 
 
 Instinctif Partners 
 Adrian Duffield/Kay Larsen/Chantal 
  Woolcock                               [phone] 
 

About StatPro

StatPro Group (www.statpro.com) provides cloud-based portfolio analytics, asset data services and data management tools for the global asset management industry and asset management service providers.

The Group has 10 offices in Europe, North America, South Africa and Australia, servicing around 500 clients in 40 countries. It is organised into three divisions: Revolution, Source: StatPro and Infovest.

Revolution is a global provider of award-winning portfolio analytics solutions. The cloud-based platform offers vital analysis of portfolio performance, attribution, risk and compliance. Revolution helps clients reduce costs, improve client communication and control investment decisions.

Source: StatPro is a global market data business and provides Data-as-a-Service to Revolution to enable analytics. The division's integrated and global data coverage includes millions of securities covering the full range of financial instruments and benchmarks.

Infovest, supplies data management solutions for the global asset management market, including data warehouse technology, ETL, compliance and reporting tools as well as portfolio management solutions.

StatPro Group plc shares are listed on AIM.

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April 03, 2019 02:01 ET (06:01 GMT)